Well I was suppose to reopen my position on Apple before earnings but I got busy at work and forgot to do it...oh well.
Anyways, I still believe that Apple has a lot more room to grow. China is going to eat up the iphone 4S in the next few months and when they drop the iphone 5 it will blow up just the same.
I don't really have a lot of faith in the ipad yet since I just don't see the use other than being lazy. I only use my tablet to surf the net while I am on the couch watching TV because I'm too lazy to get up to go to my much faster and easier to navigate computer. I'm sure there are a lot of potential things that could make the idea of the ipad go nuts but right now I believe its just good marketing and a fad. They need something along the lines of schools adopting it as a mandatory textbook or the workplace replacing it with work laptops. Then I will get on board.
I don't however believe Apple even needs to worry about it right now as the iphone is still making enough to cover the revenue/profit increase needed to keep investors happy. I believe they have a couple to a few more years milking the iphone phenomenon.
My money is on the Chinese and their love for fads and technology. Go spend your hard earned dollars on that smart phone my brothers and sisters of ethnicity.